Issue - meetings

Financial Outlook 2023/2024

Meeting: 18/10/2022 - Cabinet (Item 5)

5 Financial Outlook 2023/2024 pdf icon PDF 164 KB




This report set out the initial assumptions underpinning the financial pressures projected by the Council’s services alongside projections of the Council’s income streams insofar as they impacted the 2023/24 budget.


The report provided details of the resource projections. Initial projections for income for 2023/24 amounted to an increase in resources available of £16.001million. Initial projections for the cost of services would add a pressure of between £48.361 – £72.244million, therefore, this represented a potential budget gap for the Council of £32.626 – £56.243million.








The Cabinet noted the initial forecast level of budget pressures and funding for 2023/24 and the projected budget deficit identified and instructed the Corporate Management Team to bring forward proposals to address the projected budget deficit.




This report is important in providing the framework underpinning the budget setting process for 2023/24.